Wells Fargo CIB Real Estate

Did some digging around and was not able to find much. Does anyone have insight on which real estate lending teams at Wells are the strongest/best exit opps. Also which offices have the most people/deal flow? Appreciate any input. 


Teams: 

  • Real Estate Banking: Provides on balance sheet loans to facilitate the construction, acquisition and repositioning of multi-family, office, industrial, retail, and residential properties, serving both regional and institutional private developers.
  • Senior Housing Finance: Offers a comprehensive suite of traditional banking and credit products, as well as other services, to the top owners, operators and developers of senior housing properties nationwide. More specifically, the group is solely focused on the private pay rental independent living, assisted living and memory care property types.
  • Hospitality Finance: Delivers financial products and services specifically to leading hotel owners nationwide, including well-capitalized private owners and operators, institutional real estate funds dedicated to hospitality, and public REITs.
  • REIT Finance: Delivers corporate banking products and services to public and private Real Estate Investment Trusts (REITs), including corporate-level lending, asset-level lending and capital structure advisory.
  • Community Lending and Investment: Provides debt and equity capital for economic development, job creation, and affordable housing to our communities nationwide.
  • Multifamily Capital: Provides non-recourse permanent multifamily and healthcare facility financing for experienced multifamily, senior housing and healthcare developers, investors and owners through Fannie Mae, Freddie Mac, and FHA programs.
  • Real Estate Capital Markets: Meets the non-recourse, permanent debt needs demanded by today’s commercial real estate owners through balance sheet and CMBS lending on stabilized commercial real estate properties in loan amounts of $1million and upwards.
 

Do you think REIT Finance's exit ops would just be REITs? Seems like what the group does is really only focused on underwriting a REITs Balance Sheet to make credit lines and doesn't really care about the real estate.

 

I have experience with REIT Finance, roughly 80% of the deals I was involved in were unsecured RLOC / TL facilities. The remaining ~20% were more strategic / stimulating opportunities like bridges for M&A transactions and secured portfolio facilities.

Despite the corporate-level nature of the group, I'd say there was still a large emphasis on knowing / caring about the real estate.

 

Would concur with that list, Hospitality Finance is also really good if you want to go in that area since they specialize in large hotel deals and work on the biggest projects in the space. Also REB is the largest out of those groups and probably takes more interns/analysts than the rest combined. 

 

Same pay between the groups, might be a slight difference in bonus but that is probably more affected by city than anything else. 

 

Was at WF a few years back so maybe things have changed.

Multi-family capital is the agency platform. Based out of NYC. The group is extremely active and profitable.

REB & RECM have a lot of crossover with each other. RECM is technically the CMBS/CLO products…but that group will also handle larger balance-sheet transactions (especially the non-recourse options) depending on how/where the deal was originated.

Be careful, WF has been disposing a lot of business units, consolidating offices, etc (RCBO locations have seen deep cuts nationwide). The agency group is the safest bet by far and you’ll see a lot of large/flashy/newsworthy deals there too.

 
Most Helpful

Here is what you need to know:

Wells Fargo CRE is within the corporate and investment bank. CRE pay is the same as corporate banker pay (at least for base salary).

REB: regular balance sheet lending to all asset classes

RECM: CMBS lending (on the RE side, NOT THE CAPITAL MARKETS SIDE). The CMBS securitization is handled by the investment bankers

Multifamily capital is run by Alan Weiner and is basically its own company. They do agency lending to multifamily.

Best exit ops comes from IB division REGAL. Otherwise REB will underwrite all asset classes and take balance sheet risk. REIT finance is just lending huge revolvers or loans to REIT at the ENTITY LEVEL. They don't do the asset level underwriting that REB does (REB would do the construction loan to a REIT, while REIT finance would do the revolver to the greater organization).

Wells Fargo is the strongest Real Estate commercial bank in the country. While other banks may have stronger IB REGAL groups, no one beats Wells in terms of deal flow on the balance sheet lending side. 

 

Last week I was put "on hold" so basically waitlisted. This week I got an offer. Don't panic if you're on the waitlist. Also email the recruiting team to reiterate your interest. You might think that's dumb but I did it and got the job so...

 

Wow that’s great for you considering wells Corporate banking is still $85k base. Any idea what bonus % you expect?

 

I can only speak for their Multifamily Capital group and the Community Lending group, but those are both extremely strong in NYC.  Probably the most active in both spaces among major lenders.  Their tax credit pricing is almost always a couple cents higher than competitors.

 

First round and superday were very behavioral from my experience. Just be ready to explain why you are interested in real estate and just know the general ways you would go about valuing a piece of real estate. Maybe just general knowledge about debt and equity when it comes to funding investments, but overall very behavioral and relaxed from my experience. 

 

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